Bitcoin Private (BTCP) price suddenly registered a spike of about 34 percent as it awaits the coinburn on February 16 at block height 480,000.
BTCP Up over 34%
At the time of writing, Bitcoin Private (BTCP) has been trading at $1.55. In the past 24-hours, while major cryptocurrencies are divided between red and greens, Bitcoin Private has shoot up by a whopping 34.22 percent and is today’s bigger gainer. In the BTC market as well, it is up by 34.44 percent.
BTCP 1-day price chart, Source: Coinmarketcap
As for the reason behind this price surge is its upcoming coinburn on February 16 that will lower the existing supply of Bitcoin Private coins in the market.
On February 28, 2018, there was a 1:1 snapshot at block height 272,991 for Zclassic (ZCL) and block height 511,346 for Bitcoin (BTC), where people who owned Bitcoin and ZClassic were given Bitcoin Private (BTCP).
According to the official announcement,
“Coinburn was suggested in the whitepaper as a possible solution in the…
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